Case Study Pages:
Natural resources and the economy: planning for successful growth
This Case Study examines the dynamic nature of both the natural resources industry in general and one of its key players - BHP Billiton. It focuses on how BHP Billiton manages the complexities of stakeholder interest through well-developed programs, policies and strategies for growth.
As a result of reading this Case Study, students should be able to:
- Appreciate the importance of natural resources to the Australian economy
- Understand the complexity of a global resources business
- Identify strategies & processes to manage in a dynamic environment
- Appreciate the need for the natural resources industry to balance economic competitiveness, social responsibility and environmental stewardship.
Successful economies depend on vibrant and growing industries.
According to the Australian Bureau of Statistics (ABS), mining is defined as 'the extraction of minerals occurring naturally as solids such as coal and ores, liquids such as crude petroleum, or gases such as natural gas'.
Within the Australian and global resources industry, BHP Billiton is the world's largest diversified resources company.
Community expectations of industry have changed greatly in recent years, particularly in relation to sustainable growth.
The needs of the external customer drive businesses.
Developing a world-class professional workforce is vital to the Australian minerals industry as global demand increases for minerals.
The external environment for global companies is dynamic. Changes occur at local, national and global levels.
The significance of the resources industry to the Australian economy is undeniable.